| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Fair |
| Demographics | 41st | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1957 Fowl Rd, Elyria, OH, 44035, US |
| Region / Metro | Elyria |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 2004-10-20 |
| Transaction Price | $179,600 |
| Buyer | DIXON SENIOR PROPERTIES LLC |
| Seller | FRV ELYRIA LLC |
1957 Fowl Rd Elyria Multifamily Investment
Neighborhood occupancy around the property is steady, and renter demand is supported by a competitive renter concentration in this part of Elyria, according to WDSuite’s CRE market data.
This Inner Suburb location in Elyria offers workforce-oriented housing dynamics with neighborhood occupancy at 91.6%, roughly in line with national norms and showing incremental improvement over the last five years (per WDSuite). The share of renter-occupied housing is competitive among Cleveland–Elyria neighborhoods (ranked 108 out of 569) and sits in the top quartile nationally, indicating a solid tenant base that can support leasing stability.
Amenity density ranks lower among the 569 metro neighborhoods, suggesting residents rely more on regional corridors for daily needs rather than immediate walkability. For investors, this typically emphasizes value, parking convenience, and access to employment nodes over retail adjacency when positioning units and amenities.
Within a 3-mile radius, population has grown in recent years and households have increased, with forecasts pointing to further household growth and slightly smaller average household sizes. This pattern generally expands the renter pool and supports occupancy durability for smaller floor plans.
Home values in the neighborhood are lower compared with many U.S. areas (low national percentile), while rent-to-income levels are manageable (near the national midpoint). For multifamily owners, this can sustain retention and leasing velocity, though more accessible ownership options may require disciplined pricing and renewal strategies.
Neighborhood-level crime metrics are not available in WDSuite for this location at the time of publication. Investors should assess safety using multiple references over time—property history, insurance loss runs, and local public data—and compare any available figures to broader Cleveland–Elyria trends for context rather than relying on a single snapshot.
Proximity to regional employers supports a commuter renter base, with access to semiconductors, transportation services, and downtown Cleveland corporate offices that can aid leasing stability for workforce-oriented units.
- Texas Instruments — semiconductors (14.3 miles)
- TravelCenters of America — transportation services (15.4 miles) — HQ
- Sherwin-Williams — paint & coatings (26.1 miles) — HQ
- KeyCorp — banking (26.2 miles) — HQ
- PNC Center — banking offices (26.4 miles)
This 24-unit property with efficient average floor plans (528 sq. ft.) aligns with workforce demand in Elyria. Neighborhood occupancy is around the national midpoint and has trended slightly upward, while renter concentration is competitive among Cleveland–Elyria neighborhoods—signals that support stable leasing for smaller units. Lower neighborhood home values suggest some competition from ownership, but a moderate rent-to-income profile can help sustain retention when paired with disciplined lease management, based on CRE market data from WDSuite.
Looking ahead, 3-mile demographics indicate population and household growth with a projected increase in households and marginally smaller household sizes—factors that typically expand the renter pool and support occupancy and renewal performance for studios and one-bedrooms. Amenity density is limited locally, so residents are likely to prioritize access to job centers and value-oriented housing, reinforcing demand for well-maintained, functional units.
- Competitive renter concentration and steady neighborhood occupancy support leasing stability
- 3-mile population and household growth point to a larger tenant base over the next few years
- Efficient average unit size caters to value-seeking renters and can aid retention
- Moderate rent-to-income positioning supports pricing discipline without overextending renters
- Risks: lower amenity density and accessible ownership alternatives require careful pricing and marketing